1. Match the Economist with the School of Economic Thought They Origin From

QUESTIONS

1. Match the economist with the school of economic thought they origin from.

2. Adam Smith came up with the idea of in order for a tax system to be fair. They were a) , b) , c) , d) . Smith wanted labour to be to increase its productivity and a country’s wealth. There should be between countries to operate effectively nad people should be motivated by to benefit the society. The government should have interferance. Which economic system do Smith’s ideas match?

3. Match each cannon with its meaning.

4. What three ideas did Robert Malthus come up with?

5. David Ricardo came up with the idea of for land. He came up with the idea of in relation to trade with other countries and he accepted the .

6. Which economist forecasted the growth of oligopolies? With which economic system can this economist be connected and why?

7. The difference between what the consumer pays and the maximum they were willing to pay is called and was introduced by . He forecasted that monopolies may be controlled by a) , b) , c) . He also introduced the idea of , the sensitivity of a consumer to changes in price.

8. Which economist encouraged the use of fiscal policy to create full employment?

9. What are the three motives for holding money and how is this theory called?

10. Which economist favoured the use of monetary policy, control of money suppy and supply side policies?

11. Give three examples of supply side policies.

12. Match the ideas from column A with correct economist from column B.